Tags: US | recession | economy

ECRI's Achuthan: US Tipping Into Another Recession

Friday, 30 Sep 2011 03:19 PM

The world’s largest economy is showing signs of slumping, said the Economic Cycle Research Institute’s Lakshman Achuthan, citing leading indicators.

“The U.S. economy is tipping into a new recession,” Achuthan, the group’s chief operations officer in New York, said in a radio interview on “Bloomberg Surveillance” with Tom Keene and Ken Prewitt.

“You have wildfire among the leading indicators across the board. Non-financial services plunging, manufacturing plunging, exports plunging. That is such a deadly combination.”

The Federal Reserve’s efforts to support the economy, including holding its benchmark rate at virtually zero since December 2008 and expanding its balance sheet to a record $2.88 trillion — have done little to reduce unemployment that has hovered around 9 percent since April 2009 or to revive the housing market.
__________________________________________________________

The ‘Unthinkable’ Could Happen — Wall Street Journal
Over one million Americans have heard the evidence for 50% unemployment, 90% stock market crash, and 100% inflation. Be prepared. Watch the Aftershock Survival Summit Now, See the Evidence.
_________________________________________________________

The U.S. economy grew at a 1.3 percent pace in the second quarter after a 0.4 percent expansion in the first three months of the year, the Commerce Department reported yesterday. It earlier estimated that gross domestic product grew 1 percent from April through June.

Purchases of new houses fell in August to a six-month low as the biggest drop in prices in two years failed to lure buyers away from even less expensive distressed properties.

Sales dropped 2.3 percent to a 295,000 annual pace, figures from the Commerce Department showed earlier this week.

“We at least have a couple of quarters of worsening economy in front of us,” Achuthan said. “So if you think this is a bad economy, you haven’t seen anything yet.”

© Copyright 2017 Bloomberg News. All rights reserved.

 
1Like our page
2Share
StreetTalk
The world s largest economy is showing signs of slumping, said the Economic Cycle Research Institute s Lakshman Achuthan, citing leading indicators. The U.S. economy is tipping into a new recession, Achuthan, the group s chief operations officer in New York, said in a...
US,recession,economy
1814
2011-19-30
Friday, 30 Sep 2011 03:19 PM
Newsmax Inc.
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved